European shares close lower across the board
The major European indices are ending the day with losses across the board. The declines were led by the France’s CAC which fell about -1.2%. The German Dax is closing down -0.9% and is approaching its 100/200 day moving averages (see blue and green lines in the chart below).
Looking at the provisional closes:
- German DAX, -0.9%
- France’s CAC -1.2%
- UK’s FTSE 100 -0.5%
- Italy’s FTSE MIB -0.75%
- Spain’s Ibex, -0.4%
In other markets as London/European traders look to exit:
- Spot gold is down one dollar or -0.06% at $1794.84
- Spot silver is up three cents or 0.09% at $22.33
- WTI crude oil futures are down $0.36 at $78.54
- Bitcoin is trading at $41,732 after trading below the $40,000 level to $39,558.70.
In the US stock market, the major indices are lower but off their lowest levels:
- Dow industrial average -489 points or -1.36% at 35738. The low price reached 35639.91.
- S&P index -73.45 points or -1.57% at 4603.34. The low price reached 4582.24
- NASDAQ index -285.10 points or -1.91% at 14650. It’s low price reached 14530.23.
- Russell 2000-30.13 points or -1.39% at 2149.46. It’s low price reached to 133.93
In the US debt market, the benchmark 10 year yield moved above the 1.80% level to 1.808% but has backed up marginally to 1.79%. The two year yield is at 0.882%, down from a high yield of 0.910%. The U.S. Treasury will auction off three, 10, 30 year issues this week.
In the European debt market, the benchmark 10 year yields are mixed. The German tenure yield got closer to its parody level at -0.025%, but moved back lower and is trading at -0.039%:
In the forex, the JPY is the strongest and the CHF is the weakest. The USD is stronger with gains vs all the major currencies with the exception of the JPY.